Connor Clark & Lunn Investment Management Ltd. Cuts Stake in Origin Bancorp, Inc. $OBK

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Origin Bancorp by 42.3% during the first quarter, now holding 15,467 shares valued at approximately $536,000.
• The company recently declared a quarterly dividend of $0.15 per share, with a dividend yield of 1.6% and an annualized dividend of $0.60.
• Wall Street analysts have raised their price targets for Origin Bancorp, with five analysts rating the stock as a buy and a consensus target price of $43.20.

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Origin Bancorp, Inc. (NASDAQ:OBK - Free Report) by 42.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,467 shares of the company's stock after selling 11,359 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Origin Bancorp were worth $536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisor Resource Council acquired a new position in shares of Origin Bancorp during the 1st quarter worth $377,000. Price T Rowe Associates Inc. MD grew its stake in shares of Origin Bancorp by 118.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,930 shares of the company's stock worth $697,000 after purchasing an additional 11,328 shares during the period. Deutsche Bank AG boosted its position in shares of Origin Bancorp by 58.4% in the 4th quarter. Deutsche Bank AG now owns 26,818 shares of the company's stock worth $893,000 after buying an additional 9,887 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Origin Bancorp in the 1st quarter worth about $1,487,000. Finally, Argent Advisors Inc. boosted its position in shares of Origin Bancorp by 870.3% in the 1st quarter. Argent Advisors Inc. now owns 109,767 shares of the company's stock worth $3,806,000 after buying an additional 98,454 shares in the last quarter. 54.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OBK shares. Keefe, Bruyette & Woods boosted their price objective on shares of Origin Bancorp from $41.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. DA Davidson boosted their price objective on shares of Origin Bancorp from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Origin Bancorp has an average rating of "Buy" and a consensus price target of $43.20.

Origin Bancorp Trading Up 4.3%

NASDAQ OBK traded up $1.5980 during mid-day trading on Friday, reaching $38.6980. 188,707 shares of the stock were exchanged, compared to its average volume of 151,265. Origin Bancorp, Inc. has a 1-year low of $28.80 and a 1-year high of $41.17. The business's fifty day simple moving average is $36.68 and its 200 day simple moving average is $35.31. The stock has a market capitalization of $1.21 billion, a PE ratio of 15.73 and a beta of 0.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97.

Origin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, August 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.6%. Origin Bancorp's dividend payout ratio (DPR) is 26.79%.

Origin Bancorp Profile

Origin Bancorp, Inc operates as a bank holding company for Origin Bank that provides banking and financial services to small and medium-sized businesses, municipalities, and retail clients in Texas, Louisiana, and Mississippi. It offers noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers commercial real estate, construction and land development, consumer, residential real estate, commercial and industrial, mortgage warehouse, and residential mortgage loans.